Assets of Community Value Regulations 2012

Baroness Hanham: I wish to clarify an answer I gave on 23 July when Grand Committee was considering the Assets of Community Value Regulations.  
The Assets of Community Value Regulations which will introduce the Community Right to Bid create rights for two different categories of local groups.  First, local voluntary or community bodies (which are broadly defined) will be able to nominate assets to be listed. However, only those local groups which meet the strict requirements to be a community interest group will have the right to trigger the full moratorium period of six months after the owner has notified an intention to make a relevant disposal.  Community interest groups also count as voluntary or community bodies, so can nominate land for listing.  
The noble Baroness, Lady Thornton, asked whether unincorporated community groups can bid for assets.  In reply I said that the only people who can make a bid or take the process forward are the community interest groups, because they are properly formed and incorporated. While it is true that these groups may make a bid, this answer inadvertently gave a too limited impression of the benefit of the policy, because in fact any person or group is entitled to make a bid to purchase a building or land which is listed as asset of community value.  However, only a community interest group may trigger the full six-month moratorium period.
The Community Right to Bid in England brings together provisions in Chapter 3 Part 5 of the Localism Act 2011 and the Assets of Community Value (England) Regulations 2012.  In light of the fact that this is a new scheme it is important that there is clarity on what rights and responsibilities this scheme confers on owners of listed assets, local authorities and the voluntary and community sector.